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Frequent Contributor
UpmyscoreinFL
Posts: 293
Registered: ‎01-12-2012
0

Will. They give you money to fix up house

So if a house is 35000 need some work can I get a loan for 60000 so I have the money to fix it up? I could afford that with my eyes closed and even put 10 percent down. Wouldn't it be easy to get financed for that even with not to great credit?
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tasharn
Posts: 58
Registered: ‎08-08-2011
0

Re: Will. They give you money to fix up house

You may want to look into a FHA 203K loan. Its a rehab loan. Some lenders have experience with them and some don't.

Valued Contributor
boomhower
Posts: 1,863
Registered: ‎09-20-2011
0

Re: Will. They give you money to fix up house

FHA 203K is designed exactly for this. It's a good bit more involved than a typical loan and finding a LO with experience in it will be invaluable. 


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